A director who takes a corporate opportunity for personal gain breaches which duty A director who takes a corporate opportunity for personal gain breaches which duty? A. Duty of care B. Duty of loyalt

Under CBCA, a shareholder who dissents from a fundamental corporate change has the right to: Under CBCA, a shareholder who dissents from a fundamental corporate change has the right to: A. Demand the

Which of the following is a responsibility of the board’s compensation committee Which of the following is a responsibility of the board’s compensation committee? A. Setting executive pay

Directors of a Canadian corporation owe fiduciary duties to: Directors of a Canadian corporation owe fiduciary duties to: A. Majority shareholders only B. The corporation as a separate legal entity C.

A quorum for a shareholders’ meeting under CBCA is generally A quorum for a shareholders’ meeting under CBCA is generally: A. A majority of shareholders present in person or by proxy B. 10

Which of the following is a right of common shareholders under Canadian corporate law Which of the following is a right of common shareholders under Canadian corporate law? A. Preemptive right to purc

When a board of directors delegates authority to senior management, it remains liable for When a board of directors delegates authority to senior management, it remains liable for: A. All operational

A proxy circular for a Canadian public company must include all of the following EXCEPT A proxy circular for a Canadian public company must include all of the following EXCEPT: A. Director biographies

Which of the following decisions requires a special shareholders’ resolution under CBCA Which of the following decisions requires a special shareholders’ resolution under CBCA? A. Approvin

The duty of care for directors under Canadian law requires them to act The duty of care for directors under Canadian law requires them to act: A. As a reasonably prudent person in similar circumstance

Notice of an annual shareholders’ meeting for a Canadian public company must be sent to shareholders Notice of an annual shareholders’ meeting for a Canadian public company must be sent to

Which of the following is a valid reason for removing a director under CBCA Which of the following is a valid reason for removing a director under CBCA? A. Shareholders may remove a director with or w

A director’s term of office under CBCA is typically set by A director’s term of office under CBCA is typically set by: A. Provincial securities regulators B. The company’s articles o

Under CBCA, shareholders may bring a derivative action on behalf of the company when Under CBCA, shareholders may bring a derivative action on behalf of the company when: A. The board fails to pursue

Which committee of the board is primarily responsible for overseeing financial reporting and external Which committee of the board is primarily responsible for overseeing financial reporting and exter

The business judgment rule in Canadian corporate law protects directors from liability when The business judgment rule in Canadian corporate law protects directors from liability when: A. They make in

Shareholder proxy voting under Canadian rules allows a shareholder to Shareholder proxy voting under Canadian rules allows a shareholder to: A. Vote without attending the meeting in person B. Transfer

Under CBCA, the minimum number of directors for a public company is: Under CBCA, the minimum number of directors for a public company is: A. 1 B. 3 C. 5 D. 7 Answer: B Explanation: CBCA requires publi

A director who fails to disclose a personal conflict of interest in a corporate transaction may be liable for A director who fails to disclose a personal conflict of interest in a corporate transactio

Which of the following is NOT a mandatory item on the agenda of an annual shareholders’ Which of the following is NOT a mandatory item on the agenda of an annual shareholders’ meeting for

Who has the legal authority to call a special shareholders’ meeting when the board refuses to do so under CBCA Who has the legal authority to call a special shareholders’ meeting when the

For a special resolution at a shareholders’ meeting under the Canada Business Corporations Act For a special resolution at a shareholders’ meeting under the Canada Business Corporations Ac

Which of the following best describes the duty of loyalty owed by directors to a corporation under Canadian law Which of the following best describes the duty of loyalty owed by directors to a corpora

A public company under Canadian securities laws must hold an annual shareholders’ meeting within A public company under Canadian securities laws must hold an annual shareholders’ meeting w

Under Canadian corporate law, which of the following is a core power of the shareholders’ meeting Under Canadian corporate law, which of the following is a core power of the shareholders’